Ann: June 2021 Quarterly Activities Report, page-2

JUNE 2021 QUARTERLY ACTIVITIES REPORTSTRONG PRODUCTION AND RECORD SHIPMENTS; RESTART OF THE NGUNGAJU PLANT SET TOUNDERPIN MATERIAL UPLIFT IN PRODUCTIONACCESS THE QUARTERLY INVESTOR, ANALYST AND MEDIA WEBCAST HERE AT 8.00AM (WST) /10.00AM (AEST) ON THURSDAY 29 JULY 2021:https://webcast.boardroom.media/pilbara-minerals-limited/20210729/NaN60f60f47d194c5001ac4e147KEY POINTSPRODUCTION AND SALES• Production of 77,162 dry metric tonnes (dmt) of spodumene concentrate (March Quarter: 77,820 dmt).• Record spodumene concentrate shipments of 95,972 dmt (March Quarter: 71,229 dmt), exceeding guidance of 75,000-90,000 dmt.• Record sales of 109,190 dmt of spodumene concentrate, inclusive of tonnes loaded on a vessel late in the March Quarter which departed early April 2021.• Tantalite concentrate sales totalled 39,234 lbs (March Quarter: 47,831 lbs). PROJECT DEVELOPMENT• Pilgan Plant improvement projects commissioning targeted for September Quarter.• Ngungaju Operation set for staged restart during December Quarter, targeting annualproduction capacity of 180,000 to 200,000 dmt by mid-2022 calendar year.EXPLORATION• Strategic exploration and resource extensional drilling program along the boundary of the Ngungaju Operation identifies multiple zones of high-grade pegmatite mineralisation.• Combined Pilgangoora Project Mineral Resource update anticipated during the September Quarter.LITHIUM MARKET• Continued strengthening in global lithium materials demand, with China domestic lithium carbonate prices remaining stable and China domestic lithium hydroxide prices increasing by 16% since March to regain their premium over the lithium carbonate price (Asian Metals).• Spodumene concentrate spot market continued to tighten. CORPORATE• Evaluation of and documentation for the POSCO Downstream Joint Venture (DSJV) opportunity further progressed during the June Quarter, with parties targeting a Final Investment Decision in late August 2021.• BMX Digital Sales Platform ready for launch, with the first cargo auction scheduled to take place imminently.• Memorandum of Understanding signed with Calix Limited to jointly complete a Scoping Study for a demonstration plant for the potential production of value-added lithium salts/chemicals.• Quarter-end cash balance of $115.7M, inclusive of $16.0M of irrevocable bank letters of credit for shipments completed up to June 2021.